For Immediate Release
Chicago, IL – November 20, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Bank of America Corporation BAC, Broadcom Inc. AVGO, Lowe's Companies, Inc. LOW, Wells Fargo & Company WFC and Duke Energy Corporation DUK.
Here are highlights from Thursday’s Analyst Blog:
Top Research Reports for Bank of America, Broadcom & Lowe's
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Bank of America, Broadcom and Lowe's Companies. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Bank of America shares have outperformed the Zacks Major Regional Banks industry in the year to date period (-24% vs. -26.8%). The Zacks analyst believes that opening of new branches, steady improvement in digital offerings and efforts to manage expenses are likely to support profitability.
Its earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters. The company’s third-quarter 2020 results reflect low rates, less loan demand and subdued fee income growth. A strong balance sheet and liquidity position are expected to continue aiding the company's financials amid economic slowdown.
However, near-zero interest rates and no near-term chance of any change in the same are expected to continue hurting the bank’s margins and interest income. Also, coronavirus-induced concerns are likely to further hamper business activities. Thus, loan growth is expected to be muted in the near term.
(You can read the full research report on Bank of America here >>>)
Shares of Broadcom have gained +21.2% over the past year against the Zacks Electronics - Semiconductors industry’s rise of +42.6%. The Zacks analyst believes that Broadcom is poised to benefit from robust adoption of Wi-Fi 6 in access gateway, and cable DOCSIS 3.1 products.
Acceleration in 5G deployment, significant production ramp up and increase in radio frequency (RF) content favors prospects. Further, synergies from acquisitions of CA and Symantec’s enterprise security business are anticipated to bolster the company’s presence in the infrastructure software vertical. The company has also provided encouraging guidance for Q4 on strong uptick in wireless revenues, which bodes well.
However, anticipated sluggishness in enterprise demand might impact server storage revenues. Efforts to reduce channel inventory amid COVID-19 crisis-induced market uncertainty and increasing lead times, is likely to weigh on industrial revenues.
(You can read the full research report on Broadcom here >>>)
Lowe's shares have gained +27.9% over the past six months against the Zacks Building Products - Retail industry’s rise of +18%. The Zacks analyst believes that Lowe’s has been gaining from sturdy growth across all merchandise segments and geographies. Also improved omni-channel capabilities are boosting sales on lowes.com.
In third quarter, earnings and sales outpaced the Zacks Consensus Estimate and grew year on year. Results gained from strong demand from the company's do-it-yourself and pro customers. Moreover, the company’s online sales continued to grow, backed by strong demand and improved omni-channel offerings.
However, the company’s fourth-quarter earnings view came in below analysts’ expectations. Higher operating expenses related to the pandemic and expansion of supply chain infrastructures is likely to put pressure on the company’s performance in the fourth quarter. Also sales growth is expected to moderate in the said quarter, due to seasonal demand pattern.
(You can read the full research report on Lowe's here >>>)
Other noteworthy reports we are featuring today include Wells Fargo and Duke Energy.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>
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Bank of America Corporation (BAC) : Free Stock Analysis Report
Duke Energy Corporation (DUK) : Free Stock Analysis Report
Lowes Companies, Inc. (LOW) : Free Stock Analysis Report
Wells Fargo & Company (WFC) : Free Stock Analysis Report
Broadcom Inc. (AVGO) : Free Stock Analysis Report
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